Accropeutics Secures Significant Financing for Growth
Accropeutics Inc. has announced a successful closure of its Series B Plus financing, acquiring approximately $12 million to bolster its operations. This funding was led by Shenzhen Capital Group (SCGC), alongside fellow existing investor Morningside Ventures and newcomers Leader Venture Investment (SZTI) and Hefei Sci-Tec Venture Capital (HFST). This investment positions Accropeutics to continue developing its innovative therapeutic approaches.
Funding Allocation and Future Trials
The funds from this financing round are earmarked for further clinical trials, specifically to enhance data generation for AC-101, a promising RIPK2 inhibitor currently undergoing a Phase Ib clinical trial aimed at treating patients affected by Ulcerative Colitis (UC). This significant milestone indicates Accropeutics’ commitment to developing effective solutions for serious health conditions.
Additionally, Accropeutics boasts other developmental assets such as AC-201, a selective TYK2/JAK1 inhibitor in Phase II trials for moderate-to-severe Psoriasis, and AC-003, a RIPK1 inhibitor currently being tested for acute Graft-versus-Host Disease (aGvHD) in a Phase Ib trial. The company also has an impressive pipeline of multiple innovative assets in pre-clinical stages, setting the stage for future growth and potentially life-changing therapies.
CEO's Vision for the Future
Dr. Xiaohu (Jason) Zhang, Co-founder and CEO of Accropeutics, expressed optimism regarding the impact of this financing on the company's growth trajectory. He stated: "With this round of financing, we are able to continue advancing our lead programs and solidify our position as an innovative, multi-program, clinical-stage biotech company. I am grateful to our existing and new investors, who share our vision that we can transform the treatment landscape for a wide range of I&I diseases with potentially best-in-class therapies."
About Accropeutics' Innovative Portfolio
Accropeutics Inc. is dedicated to pioneering the development and commercialization of novel therapeutics aimed at treating immune-mediated inflammatory diseases. With a strong focus on molecular mechanisms of regulated cell death, the company is actively working on novel treatments to improve patient outcomes in the field of immunology. Accropeutics has a thorough portfolio of compounds at various stages of development, symbolizing its commitment to breakthrough healthcare solutions.
Among its trials, AC-101 has completed Phase I trials in Australia and China, showing promise as a viable therapeutic source against Ulcerative Colitis. Furthermore, AC-201 and AC-003 are also progressing through essential phases, now contributing to the body of research addressing significant health challenges. The company's pipeline is continually advancing, with substantial global rights and 23 issued patents across multiple regions, including China, Japan, Korea, the US, and the EU.
Contact Information for Inquiries
For those seeking further information about Accropeutics, contact Kenneth Gao, Senior Vice President of Corporate Development & Strategy. Contact details are readily available for interested parties looking to engage or learn more about the groundbreaking work being done at Accropeutics.
Frequently Asked Questions
What is Accropeutics’ recent funding achievement?
Accropeutics has secured $12 million in Series B Plus financing to enhance its clinical trials and research.
What will the funding be used for?
The funds will primarily support the ongoing clinical trials for AC-101 and its other developmental assets.
Who led the financing round for Accropeutics?
The financing round was led by Shenzhen Capital Group, with notable participation from other investors.
What are Accropeutics' lead programs?
Accropeutics’ lead programs include AC-101, AC-201, and AC-003, targeting various immune-mediated diseases.
Where is Accropeutics headquartered?
Accropeutics is headquartered in New York and has operations in various regions, including China.
